After releasing a report on positive 2nd Quarter gains – with some gains attributed to the slight uptick in home sales – Freddie Mac remains cautious with their property data of the housing market. Remember that real estate is three things: Cyclical, Seasonal and Emotional.

“While we are seeing some early signs pointing to a housing recovery — including a modest uptick in house prices in some markets — our outlook remains cautious due to rising foreclosures, growing unemployment, tight lending standards and buyers’ reluctance to re-enter the market,”Interim CEO John Koskinen said.

What are your predictions for Fall home sales? Will the public records show that we will continue to see improvements in the housing market? Or will there be some declines as the spring/summer season comes to a close?